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Project Update Week Ending 25 May 2018

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Project Update Week Ending 25 May 2018 Project Update Week ending 25 May 2018 Toowoomba region breaks commercial projects but this is the first instance in which Risen has taken on a direct more ground in Queensland’s role. solar landscape 20 May “This project also joins other renewable Solar is continuing to become a staple of projects dotted along this region’s landscape Queensland’s renewable energy landscape, including the Oakey and Darling Downs solar with construction starting today at the new projects and the Coopers Gap Wind Farm. 121 megawatt Yarranlea solar farm, west of Toowoomba. “While Queensland is blessed with an abundance of sunshine, it has been the Energy Minister Dr Anthony Lynham said the championing of the right investment climate Yarranlea Solar Farm was further confirmation by the Palaszczuk Government which has that Queensland and the Palaszczuk helped to secure this investment.” Government was leading the charge in renewable energy investment. Risen Energy’s Project Development & Investment Director John Zhong said the “The Yarranlea Solar Farm is building on the company was proud to be involved with the state’s existing and current renewable energy Yarranlea Solar Farm. projects as a $240 million, 200-job and 121 megawatts energy generator,” Dr Lynham “This is Risen Energy’s first of many company- said. owned solar developments in Australia. “The commencement of construction of the “The 121 megawatts Yarranlea Solar Farm will Yarranlea solar farm signifies the beginning of be constructed using as many local resources a 12-month journey to being operational, as possible including labour, equipment, when the switch will be flicked and it begins contractors and accommodation. powering approximately 32,000 homes. “When completed the Yarranlea Solar Farm “This investment by Risen Energy will see the will supply power to homes, businesses and installation of approximately 400,000, two by industries in the Darling Downs region and the one metre solar panels over 250 hectares at South East,” Mr Zhong said. Yarranlea, creating even more employment opportunities for the Toowoomba and Darling “Risen Energy’s investment in Queensland is Downs region. another important step in securing the state’s solar investment boom and its renewable “Risen Energy is already a part of economy,” Dr Lynham said. Queensland’s renewables sector with its panels used in a number of large-scale and Page 1 (Click on relevant project links to go to online Project Database) There are 56 large-scale solar projects recently announced $200 million Lakeland currently in the approvals or construction wind farm, also in the Far North. process in Queensland. “When complete, these projects will more Source: Queensland Government than double Queensland’s renewable energy output and produce enough electricity to power close to one million homes,” Dr Wind farm to generate power Lynham said and jobs for the Far North “Our 50 per cent renewable energy 21 May generation target by 2030 has boosted the Far North Queensland residents are set to level of renewable energy investment, benefit from a wind farm project for up to 29 bringing significant projects to regions right turbines as part of Neoen’s planned green across the state. power hub at Kaban 80km south west of Cairns. “This is yet another project to join our $4.3 billion pipeline of renewable energy projects Minister for State Development, underway or financially committed,” he said. Manufacturing, Infrastructure and Planning Cameron Dick announced that the State had Minister Dick said each turbine would have an provided development approval for the wind electrical output of up to 5.5 megawatts farm project, which would bring substantial (MW). It was expected that the total investment to the region and is expected to generation capacity would be up to 160 MW. create around 150 jobs during construction. The turbines would have a maximum height of 240 metres. “The proposed development at Kaban is for a wind farm for up to 29 turbines and additional “Neoen worked closely with the department infrastructure, including a substation and to assess acoustic impacts on nearby houses, battery storage facility,” Mr Dick said. impacts on fauna, native vegetation clearing and traffic impacts,” Mr Dick said. “This means jobs for the region over the 12- month estimated construction period and “Conditions are recommended to be imposed more clean energy for the region to tap into. on the decision that will mitigate and manage acoustic, flora and fauna and traffic impacts. “The green power hub, which will incorporate the wind farm, is a $300 million project, “The Queensland Government looks forward planned to operate for at least 30 years and to bringing more job-creating, economy- generate enough power to supply 57,000 boosting projects to the Far North,” he said. homes. Source: Queensland Government “The Queensland Government welcomes private sector investment of this kind in support of the state’s renewable energy policy.” Minister for Energy Anthony Lynham said the new wind farm would complement more than two dozen large-scale projects that were currently committed or under construction throughout Queensland, including the Page 2 (Click on relevant project links to go to online Project Database) AGL completes assessment of Planning approval for Wesley offer from Chow Tai Fook Vale solar farm Enterprises and Alinta Energy 21 May Latrobe Council has today announced the 21 May approval of the Wesley Vale Solar Farm, near On 30 April 2018, AGL Energy Limited received Devonport, which will become Tasmania’s an unsolicited, non-binding, highly conditional largest solar farm. The development will indicative offer from Chow Tai Fook supply up to 12.5 megawatts (a.c.) of Enterprises and Alinta Energy Pty Limited to renewable energy to the grid, enough to acquire the Liddell Power Station, associated power 2,900 homes. assets and the related site for a cash consideration payable to AGL of $250 million Most importantly, the project will strengthen (the Offer). and diversify Tasmania's energy mix, as a complement to the hydro-electric backbone. AGL has completed a thorough assessment of the Offer and, after careful consideration, has Epuron is very excited to see the project enter advised Chow Tai Fook and Alinta that it will the next phase of development. We not proceed any further with the Offer. The appreciate the efforts already made by AGL Board has determined that the Offer is Council and the local community to reach this not in the best interests of AGL or its milestone, and we are committed to shareholders. The Offer significantly continuing our engagement with all project undervalues future cash flows to AGL of stakeholders. operating the Liddell Power Station until 2022 and the repurposing of the site thereafter. Epuron is now finalising the grid connection arrangements for this project and preparing In considering the Offer, AGL sought external for construction to commence in 2019. expert advice on matters relevant to the Offer, including the capital expenditure Source: Epuron requirements across all plant components and the reliability and safety profile of the ageing power station. Consequently, AGL has reaffirmed its decision to close Liddell in Construction to start for Cattle December 2022 and will continue progressing Hill Wind Farm its NSW Generation Plan, which includes 21 May repurposing Liddell. The Australian Energy Goldwind, alongside Power China Resource Market Operator has confirmed that Limited (PCR), a subsidiary of POWERCHINA completion of this Plan will address the Ltd, today announced construction will capacity shortfall that may occur as a result of commence for the Cattle Hill Wind Farm, Liddell’s closure. located in Central Tasmania. Source: AGL Energy Vice President, Power Construction Corporation of China Ltd, Mr Li, said PCR is pleased to be partnering with Goldwind to deliver the Cattle Hill Wind Farm project. ‘We look forward to working with Goldwind and key project partners to successfully construct and operate the wind far,’ Mr Li said. Page 3 (Click on relevant project links to go to online Project Database) Tasmanian civil construction company, Hazell Share Purchase Plan raises Brothers, will be one of the key partners for the project during the construction period. $5.3 million 22 May “Hazell Brothers recently successfully Carnegie Clean Energy Limited (ASX: CCE) is completed the site access works for the pleased to announce that it has raised $5.3 project. The agreement signed today allows million to grow its solar, battery and wave Hazell Brothers to commence early works for energy businesses. the project and acknowledges them as the preferred contractor for the full civil and Carnegie’s Managing Director, Dr Michael electrical works for the wind farm,” said Mr Ottaviano, said: John Titchen, Managing Director of Goldwind “We thank our shareholders for their support Australia. in the capital raise. We will now use this new capital and our existing funds to accelerate “Hazell Brothers has extensive experience in our businesses towards financial delivering large-scale infrastructure projects sustainability.” in Tasmania,” said Mr Titchen. Carnegie previously announced on 30 April TasNetworks will now commence all works 2018 that it had initiated a Share Purchase required to connect the wind farm to the Plan which allowed all eligible Carnegie Tasmanian grid. Once operational, the project shareholders to purchase between $2,500 and will provide clean energy to power $15,000 worth of shares in Carnegie at 3.0 approximately 63,500 Tasmanian homes each cents per share. The offer price equated to year. approximately a 12% discount based on the share price at the close of trading on 27th The project will establish a community fund, April 2018 and a 15% discount on the 20 day donating $120,000 into the local community volume weighted average price. each year. An example of this is the recent major sponsorship of the World Fly Fishing Carnegie identified that the funds raised Championship to be held in Tasmania in 2019.
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